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Okinawa City mayor may resign as president of shopping mallDate Posted: 1999-06-05 Masakazu Nakasone, who is also Mayor of Okinawa City, said he would accept full responsibility and quit the position of president of Korinza shopping mall due to the large debt the store has incurred. The decision has been met with anger by some, who feel Nakasone’s offer to resign is an irresponsible act. Korinza mall’s problems began when the store was faced with stiff opposition from large-sized stores opening in the area. This caused small- to medium-sized shops to abandon any plans to open in Korinza, resulting in a fall in expected revenues from new leases. Korinza shop owners and tenants held a meeting on May 29 and decided for the short term to continue doing business, optimistic trading will soon pick-up. |
   
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